President John Dramani Mahama has revealed he is a cocoa farmer, and his government’s decision to cut cocoa prices affects him too.
According to John Mahama, he directly understands the economic pressures facing cocoa farmers following the recent volatility in global cocoa prices.
Speaking at the maiden Ghana Tree Crops Investment Summit and Exhibition on Tuesday, February 17, President Mahama stated, “Nana Kwebu Ewusi gave me 50 acres of land, and I planted cocoa on the 50 acres, so I am a cocoa farmer. So when the price is reduced by the government, it affects me too”.
“I want to be able to empathise with farmers so that when we take any policy decision, we know that it has an effect on farmers and we feel it ourselves. If there is no fertiliser or the price of fertiliser is expensive I feel it myself because I also buy fertiliser”.
President Mahama further revealed that he has acquired another 100 acres of land for oil palm.
“I recently acquired another 100 acres of land, and this time I have dedicated it to oil palm, so we have planted the oil palm”, he added.
Mahama’s comments follow Dr Cassiel Ato Forson, who has announced a revised cocoa price of 64kg cocoa bag from GHS 3,625 to GHS 2,587 for the remainder of the 2025/2026 season.
According to Ato Forson, the decision comes after the Producer Price Review Committee (PPRC), under his chairmanship, convened earlier in the day to assess the challenges facing the Cocoa sector.
Speaking during a press briefing on Thursday, February 12, Dr Forson disclosed, “The PPRC has recommended that the farmer be paid 90% of the achieved gross fob of USD 4,200 per tonne”.
He added that the committee set the new producer price at GH₵41,392 per tonne, equivalent to GH₵2,587 per bag, effective immediately.
“As a result of that, the PPRC thereby announces that effective today, Thursday, 12th February, 2026, the new producer price for the remainder of the 2025, 2026 crop season will now be GH 41, 392 per tonne and 2,587 per bag,” he noted.
“This measure is necessary to enable the expedited payment of farmers and to guarantee the sustainability of our cocoa industry,” he said.
Meanwhile, the CEO of Ghana Cocoa Board (COCOBOD), Dr Randy Abbey, in a press statement, has announced that the Executive Management and Senior Staff will take a pay cut following the challenges within the cocoa sector.
According to the press release, the pay cuts take immediate effect and will remain in place for the remainder of the 2025/2026 crop year.
The press release detailed that Executive Management will take a 20 per cent reduction in salaries, while Senior Staff will also be hit with a 10 per cent cut.
The pay cuts are seen as a broader cost-containment measure to align with revenue.
Also, the CEO statement indicated that additional steps, including procurement reforms and a staff rationalisation exercise, were to be taken to stabilise COCOBOD finances.
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